05:50 AM EDT, 08/01/2024 (MT Newswires) -- (Updates with the stock move in the headline and the first paragraph.)

Meta Platforms ( META ) shares rose more than 7% in Thursday premarket after the Facebook owner overnight reported a bigger-than-expected jump in Q2 earnings and sales.

The company reported Q2 earnings late Wednesday of $5.16 per diluted share, up from $2.98 a year earlier.

Analysts polled by Capital IQ expected $4.76.

Revenue in the quarter ended June 30 rose to $39.1 billion from $32 billion a year earlier.

Analysts surveyed by Capital IQ expected $38.3 billion.

The company expects Q3 revenue of $38.5 billion to $41 billion. Analysts polled by Capital IQ expect $39.2 billion.

Price: 508.87, Change: +34.04, Percent Change: +7.17